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Direct Merchants Bank......pre appvl?


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I just got a pre-approval on dmb upto $2500. 0% on balance tranfers (3% tfr fee per card) Does anyone currently have this card?

which cra do they pull?

I was considering moving my other cc balances to this card so i have a higher spending limit. However I knew they recently lost a class action lawsuit for delay in paments, billing errors..and eronnios charges...

I want to know if they have cleaned up there act ? Seems like an o.k offer for the short term...

kdcool

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I'm not honestly sure. Never dealt with them myself.

On the other hand, if you know they've had some recent issues you should probably be careful about how much business you toss their way. My husband opened a "cross country" credit card and I found out AFTER the fact that they'd had issues to and am now forever regretting it. Some companies ya just don't want to do business with.

Good luck.

Elyse

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There's a site that I think is a great resource: http://www.cardoffers.com . Scroll down to the bottom of that website and then click on "Commentaries".

In that section a consumer can submit his/her feedback on a particular credit card from a particular bank.

Here is a direct link to the consumer feedback on Direct Merchants Bank:

http://www.cardoffers.com/introComments/categories/listissuer/creditcard.asp?issuer=Direct+Merchants+Bank

Judging by the average rating for each of the different Direct Merchant Bank credit cards, it looks like this is a bank to avoid. If you're interested in reading the reviews for a particular one of those cards, just click on the name of the particular Direct Merchant Bank credit card.

Here is another website with more complaints about this bank:

http://www.consumeraffairs.com/credit_cards/direct_merchants.htm

Edit: I just read that DMB had been bought by HSBC. So, don't know how much that might or might not balance or ameliorate things for DMB customers.

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Thanks for the replies...I have already applyed and been approved after reading the posts here..I will however keep a very CLOSE watch on ANY tricks they may play when i get this card. I plan on keeping a low balance and at the 1st sign of deceptive practices with DMB I'm off with a balance tranfer to better card.

I already have an HBSC card (househould bank) and they have raised my limite twice and always had made payments on time. So well see what happens..

any other thoughts are appreciated..

thanks.

kdcool

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Thanks for the replies...I have already applyed and been approved after reading the posts here..I will however keep a very CLOSE watch on ANY tricks they may play when i get this card. I plan on keeping a low balance and at the 1st sign of deceptive practices with DMB I'm off with a balance tranfer to better card.

I already have an HBSC card (househould bank) and they have raised my limite twice and always had made payments on time. So well see what happens..

any other thoughts are appreciated..

thanks.

kdcool

HSBC is the issuer for DMB products, now that they bought it almost a year ago. Sorry was away which I'd had the chance to inform you of this.

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